The Fund stays until Monday and the Economy goes out to repurchase more bonds

All eyes are on the reserves of the Central Bank, consequently, this week an IMF mission arrived in the country that will remain until Monday, in order to audit the goals for the fourth quarter of 2022 corresponding to the agreement that was reached. made last March.

During the weekend the meetings between the technicians of the Monetary Fund and officials of the Ministry of Economy will continue. The secretary of Economic Programming, Gabriel Rubinstein, and the head of Advisors of the Ministry of Economy, Leonardo Madcur, lead the meetings with the representatives of the multilateral credit organization since the beginning of this week.

If the goals are finally approved by the IMF board of directors, Argentina will be in a position to receive a new disbursement, in this case of some US$5.4 billion.

In addition, the Ministry of Economy announced the repurchase of US$ 100 million of bonds in dollars, in defense of debt sustainability.

This was reported by the Secretary of Finance, Eduardo Setti, who acknowledged the scant response to a similar operation that took place this week.

“We made a repurchase offer for US$200 million and we only got a market proposal for around 5% of the amount offered. Continuing with the deleveraging process, today we will be actively with 10% of the buyback program in defense of debt sustainability, ”said the official, on his Twitter account.

Setti had anticipated the operation, justified by the drop in the price of those titles. “The Fed’s rate hike will create a situation of general decline in emerging markets that gives us an opportunity to continue consolidating the buyback process. Today we will be present in the market with 20% within the announced program,” the Finance Secretary said at the time.